Marassi project in Egypt is on track: Emaar

Emaar Misr for Development, the wholly owned subsidiary of Emaar Properties, has made progress on the development of the first phase of its Marassi project in Egypt, it said yesterday.

Structural work of villas and townhouses in two residential villages is 80 per cent complete, while work on other residential communities are progressing.

The beach clubhouse will be completed by this summer. The 1,544-acre residential resort project is located by the historic Sidi Abdel Rahman and Alamein beach.

Work on the EGP9.92 billion (Dh6.62bn) Marassi is being undertaken round-the-clock for on-schedule completion and delivery of homes in the first phase by end-2010. More than 300 professionals and skilled workers are employed on site, and Emaar Misr is working with leading Egyptian contractors and consultants on the various components of the project designed by an international team of architects, the company said.

"Marassi is one of the flagship projects of Emaar Misr, along with Uptown Cairo, and we have directed all our efforts in the timely completion and handover of the two landmark projects. By this summer, the larger master plan of Marassi will have taken shape." said Sameh Muhtadi, Chief Executive Officer, Emaar Misr.

Currently, the structural work for villas in the Victoria and Azura areas of Marassi are progressing at a fast pace.

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